EUR/JPY bulls likely to prevail - Technical Analysis - Dukascopy Bank
Tue, 29 Dec 2020 07:03:39 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
34%
32%
4.7%
Shorts
66%
68%
-2.3%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Buy
Buy
Buy
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇗
The single Eurozone currency rose by 79 basis points or 0.63% against the Japanese Yen on Monday. The currency pair tested the 126.98 level during the Asian session on Tuesday.
As for the near future, the exchange rate is likely to continue to surge in a narrow ascending channel pattern. Bullish traders could target the 127.40 area within this session.
However, a psychological resistance level at 127.00 could provide resistance for the EUR/JPY currency exchange rate during the following trading session.
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